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Search Results 0 to 49 of about 103 (some duplicates have been removed)
. tonight on "the willis report" wall street loves california's huge tax increase, but is it already backfiring? also, it started as a few hundred pages. now it is 70,000. tonight, the federal income tax on its 100th birthday. and what does the death of investment club tell us about the overall health of the market? "the willis report" is on the case. ♪ gerri: all that and more coming up. first, the fix that will only create more problems. democrats, once again, pushing for more tax revenue and putting a tighter squeeze on all of us. to get the u.s. out of the financial black hole, but washington only needs to look across the country to california to see how this will play out. with more on this, michael reagan, founder of the rating group. welcome back to the show. great to have you here. i need to get you to comment on to harry reid. this weekend talking about more taxes. he says, the american people are on his side. here he is. >> the american people don't believe in this bustier things. we believe that the rich should contribute. we believe we should fill those tax loopholes, g
obama. once again obama is pushing for higher taxes. don't take our word for it. listen to what he said last night just before the sboel. >> there is a way to solve the budget problems in a responsible way through a balanced approach that the vast majority of people agree with. if we do there is no reason we can't have strong growth in 2013. we can't b have washington dysfunction getting in the way. >> with all respect, free market capitalism is the best path to prosperi prosperity. more tax hikes will not hurt this economy. let's not push our luck. republicans will block it. we'll be right back. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. >>> stock market correction today. i still believe rising profits and an easy fed will keep the bull market going -- at least until the president tax bombs us to death again. that's what obama said before the super bowl yesterday which could be the real reaso
'm stewart in for neil cavuto. remember this, that fiscal cliff deal, huge amount in tax hikes. not much in the way of spending cuts. are we about to see the sequel? the president is calling on congress to pass another quick fix to avert those automatic spending cuts he originally signed off on, kicking in march 1 income, and this includes new tax revenues. the former south carolina senator jim demint says we have seen how the movie ins and it's not go. okay, jim, spell it out. more tacks and not so many spending cuts. what's the result? >> you have to scratch your head. the federal government will receive historically high tax revenues this year, yet we've double spending. it's a spending problem. the president is not willing to cut spending at this point. he continues to talk about more taxes. even though he promised that this sequester would never happen and if he got his tax increases he would cut spending. >> what are the run republics going to do? we have the president calling for more taxes. what should their response be? >> well, republicans passed in the house last year what the
. the president and senator reid old want more revenue beating one way or another, more taxes. and yes, the dow is turning away from backing off from 14,000. here we go, everyone. "varney & co." is about to begin. [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ from td ameritrade. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. stuart: we are going to call this a news alert. senator harry reid calling for more tax increases. in an interview on abc yesterday, he said tax revenue must be part of any deal to be part of the little defense cuts. here is senator reid. >> the american people are on our side, and america p
perceptions of the sales tax or consumption taxes it will be easy to a minister. there is a role for the tax collector, and if you look at any state law you will see the car phone of exemptions, and they are as complex as some of those tax preferences we have in our code. discipline will be required on a consumption tax just as it would for an income-tax. ♪ a little bit. and that is the nature of accounting systems and how they influenced the development of tax policy. if i go all the way back to the history of conversion from a tariff to an income tax, what really makes this possible is the growth of the modern corporation or the modern business because they develop the accounting system, keep track of who has wages and for them to operate efficiently and need to keep track of it. that is the financial accounting that acquires them to keep track of income, and the government that is able to latch on to these accounting systems and really rely upon them to enforce code. in truth it is the large business, large charity, larger organization that is the main instrument for impleme
in the social security payroll tax, the increase in tax rates on income above certain thresholds and the cuts in federal spending scheduled to take effect next month will mean reduced spending by both consumers and the government. we project inflation adjusted g.d.p. will increase about 1.5% in 2013. but it will increase roughly 1.5% fast if not for the fiscal tightening. after the economy adjusts to that fiscal restraint, we expect the growth in real g.d.p. will pick up to about 3.5% per year in 2014 and the following few years. but the gap between the nation's g.d.p. and what it is capable of producing on a sustainable basis, what we call potential g.d.p., will not close quickly at that rate of growth. under current law, we expect output to remain below its potential level until 2017. almost a decade after the recession started in december of 2007. by our estimates, g.d.p. was more than 5% below its potential level in the fourth quarter of last year. a gap that is only modestly smaller than the gap that existed three years ago. because growth in output since then has been only slightly fast
tax and replace it with a small hike in state sales tax. the republican governor on where things stan right now. governor, thank you for joining us. >> thank you, sir. >> you want to raise the state sales tax but eliminate the gas tax. give us the numbers. >> well, we do have a problem with infrastructure in america. you heard the secretary's comments and you're right. only 6% of the stimulus money was spent on infrastructure, and the rest was spent on things that didn't help much. so we have a problem and it's the gasoline tax on a state of decline because of inflation, alternative fuels and cafe standards and so forth, and we have the most congested area in america, northern virginia. so we're trying to build infrastructure. the gas tax is going to keep declining so we're suggesting let's get rid of and it replace it with a sales tax that froze with the economy. >> let's tell the viewers the numbers. the virginia gas tax is 17-1/2 cents per gallon. nationwide it's 18.4. you're saying eliminate the 17-1/2 sentences per gallon state sales tax and add .08% on sales of everything. is th
that cuts defense spending once again. it has $500 billion in new taxes and also cuts in domestic spending. it is irresponsible, unacceptable. it leaves their troops and our economy and ready to face the challenges of the future. or the threats of today. when i went to the steering committee to apply for this job, i explained to them the way i saw the jobless to make sure that our troops, those who we sent into harm's way would have everything they needed to carry out their missions and return home safely. everything in the way resources, training, leadership, these things are very important. and i look at what is happening with these cuts that we have seen the last couple of years and it is just irresponsible that the commander in chief, his main job should be the same that i look at as my job, only he should be looking out for the soldiers, sailors, airmen and marines that he sent into harm's way. he should not send them with anything less than the told that -- the total they need. and to be stepping up and continuing to cut -- i visited with their top leaders, and they have told me that
'll never stop trying to raise taxes. whether or not he can succeed i don't know. he comes out of a far left ideology that believes in class warfare and radical wealth restriction and to feed that you need tax revenue coming from the so-called 1% on whom he raised tax throw it the fiscal cliff deal. he knows the real now is with the mitting class so he is coming for you. so -- >> wait, wait. right there want you to listen to this. this is also what he said. >> can we close some loopholes and deductions that folks who are well-connected and have a lot of accounts and lawyers can take advantage of so they pay lower rates than the bus driver or a cop. can we close some those of loopholes? if you combine those things together then we cannot only reduce our deficit but we can continue to invest in things like education and research and development nat are going to help us grow. >> more spending. >> and when a guy like obama uses the word invest it means more government spending. he is not stopping trying to raise taxes and when he is talking about closing loopholes and deductions, that's somethin
. they are simply willing to spend money. they gave tax cuts and never paid for them. in the end they have eroded the revenue of the government. some of it is coming back. the wars are winding down. the economy is picking up. but there is a real health care problem that we have to deal with at some point. it will take some revenue. you cannot just do it by magically saying that it will fallout of the sky. you cannot cut enough to get the debt down without talking about revenue. i think it they did a little bit here at the end of january 3. everyone gave the office and will not give again. host: this editorial from "usa today," de say that it is not a spending problem -- but "usa spend money. today," others, saying that it is. guest: let me explain. the average cost spent on a senior citizen in medicare is flat. it went up 0.4% last year. it is flat spending. the fact is that beginning in 2011, all the children born after the second world war, the so-called baby boomers, are coming on. when i came to congress in 1989 there were 35 million seniors on medicare. 30 million people altogether. we have
's new regulations or his tax increases and therefore it is all the more difficult for them to expand their businesses and create jobs in america. to add to the uncertainty, the president's proposed sequestration is set to take effect this march. despite his promise, his promise to the american people that it would never actually happen, the president has yet to take any steps to undo this harmful measure. he has shown absolute indifference to the millions of americans whose livelihoods will be severely impacted by his sequestration. house republicans have twice passed legislation to replace the president's sequester with commonsense reforms that will reduce spending, preserve and strengthen our safety net for generations and preserve our national defense. this week the house will pass a budget but it will be a responsible budget that will balance. one that will aim to grow the economy, drive down unemployment, expand opportunity and prosperity for the private sector and ensure that america maintains its leading role in the world as a strong national defender. americans can do this. w
's paycheck went down as taxes went up. that will take $200 billion out of the economy. now you have got gas prices spiking. that's going to take even more money out of the economy just as the economy starts to slow down and contract. the timing as you said could not be worse. gregg: you are such a kill joy on a monday morning. stu varney. martha: so this spike at the pump appears to be no fluke but a part of an ongoing trend. gas prices have gone up for 18 consecutive days. 18 states have gas prices higher than the national average. they are feeling the pain of that more than the rest of the states. we are just getting started on this monday morning. gregg: ahead. a deadly chain reaction crash involving a tour bus. details on what investigators think went wrong in a live report. martha: president obama in his super bowl interview. he dropped a bit of news. he is pushing once again for increased revenues. there is only one way to get those these days when you have got an economy that's not growing. former president wash adviser karl rove is here with us next. gregg: a little boy in alabama s
real spenged cuts for more tax hikes. the president's sequester should be replaced with spending cuts and reforms that put us on a path to balance a budget over the next 10 years. the american people believe that the tax question has been settled. they know the president called for a balanced approach to the debt. combination of revenues and spending cuts, and they know he's gotten his revenue. the american people do not believe the president will use further tax revenues to lower the debt. and haven't seen this president attempt to spend his way into prosperity over the last four years, they know he'll spend it. the president doesn't believe we have a spending problem. he general winly believes the government -- genuinely believes the government spending causes economic growth. if that were true, the economy today would be thriving. it isn't thriving. the unemployment rate is still nearly 8% and rising. small businesses like the one i ran are struggling. middle class families, those lucky enough to have a job, are living paycheck to paycheck. and president obama just insisted on rais
? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> it hasn't sunk in yet. crazy. unbelievable. tough to put into words because it just really hasn't sunk in yet. i don't even think it's sunk in that we're here, let alone won the thing, so pretty cool. >> the way that game played out when it was 28-6 and the lights went out and whatever happened, i just knew with jim harbaugh being on the other sideline and all those years that we've been together, that that game was going to be a dogfight right to the end. that those guys were coming back. >> i just try to let my teammates at this moment know what we feel like. and last night when i had the conversation with them, you know, that just came directly from my heart to tell them what this feeling would feel like and what god has showed me and for us
. we take no tax dollars. we don't have the ability to reduce costs in a way a private business would. and we are at the end of our borrowing authority. to give some perspective of our liquid situation, a typical large organization would either have cash on hand or quick borrowing ability. in october, the postal service had less than four days of cash on hand. that's a very scary situation and no situation that a business should be in. and this is why we have taken aggressive steps to reduce our costs and why we have been so vocal about seeking postal reform legislation. we faced a major hurdle to return to profitability and long-term stability. we need to generate $20 billion in cost reductions and revenue increases to close the budget gap and be able to repay our debt, both close the gap and repay the debt. and this is why the board of governors has directed us to take every necessary step to reduce costs and conserve cash necessary to continue our operations. it's what we have been doing consistently over the last couple of years. and we will be accelerating those efforts moving fo
of the things that mitt romney talked about. he said there's some low-hanging fruit. there are a lot of tax loopholes that should be closed. i agree with him. we haven't done that. >> like which ones? >> well, oil subsidies. we have issues dealing with shipping jobs overseas. why don't we do some -- fill some of these -- >> i think if my numbers are correct, you do the oil and gas subsidy, i think that might save you something like 25 billion over ten years. >> no, it's more than that, george. but let's assume because the debt ceiling doesn't kick in till august, i believe that's what we'll have, but let's add these together. let's say you're right, 30 billion. but let's -- jobs overseas, we can dial that however we want because it's all -- a huge loss of revenue, corporate jets, tehre are all kind of things that are low-hanging fruit. >> you've heard the republicans across the board here. they're saying they're done with revenues for 2013. >> george, the american people are on our side. the american people don't believe in these austere things. we believe that the rich should contribute. w
, sequester, higher taxes. but kimberly, if you look to 2013, it shoots back up. how can the president hold a press conference when he talks about cuts using the word smaller. >> there's so much shrinkage. the problem is the middle class is the working poor. that's what's the norm. people are so used to it now they don't realize it should be fixed. we could focus on cutting back on spending, thinking about how to stimulate jobs and the economy. we're so used to the stagnation, it's become acceptable and people aren't critical enough to say there's a better way to do this and a smarter financial way to make sense. >> is this the new normal? before we get to that, the white house scrambled after the cbo announcement to cobble the press conference together. what did you think? >> one of the things, if ear going to call press conferences, he has to take questions. if he goes to the white house briefing room, reporters should demand access and ability to probe and ask questions. i don't understand how that keeps heaping. the econstituency was interesting. this morning early on i read a story in
change, immigration, gun control and taxes. mr. obama joked on monday about how tricky it can be to get things done. >> if there's one thing that i've learned over the last four years it's that you can't count on anything in washington until it's done. >> reporter: republicans believe that senate majority leader harry reid has been effective in shielding his members from some tough votes on items such as the budget but we've been assured there will be a budget this year so that unity and enthusiasm may be tested early. jenna? jenna: if you had a nickel forever time --, no. we would all be really rich. that there would be unity on capitol hill. we've heard some from the senate democrats about some of the issues they're worried about ahead. what have you heard within the halls of capitol hill? >> reporter: jenna, gun control is a prime example in places like new york, new jersey, california. gun control is popular. but harry reid also has democratic members from places like west virgina, arkansas, louisiana, and alaska where gun control can be dirty words. here is senator reid speaking re
taxes. >> can we combine some smart spending cuts because there's still some waste in government, can we reform our health care programs in particular and can we close loopholes and productions that folks who are well connected and have a lot of accountants can take advantage of. there's no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. >> president also warned congress about the danger of alowing the sequester to go into effect. >> washington cannot continually operate under a cloud of crisis. that freezes up consumers, gets businesses worried. we can't afford the self-inflicted wounds. >> no another tweet david plouffe said message delivered to big audience on balanced budget, deficit reduction, economy growth. on abc, an unlikely name was invoked for direction. >> i think what we need to do is do some things mitt romney taungd abo talked about. he said there are tax loopholes that should be closed. there are efforts being made to only get rid of the sequester as it relates to defense. i repeat, $2.6 trillion already all comi
on the air is they view the president's health care law as a form of a tax increase as the supreme court in a sense said it was. they think they got taken to the cleaners by the president. the progressives don't think that. most conservatives think they got taken to the cleaner by the president on the debt ceiling thing where tax -- income taxes raised on individuals over $400,000. they're not going to be in any kind of mood to accept any kind of, quote, revenue raisers, unquote. right now, or any time soon. i think what's going to be happening is you have a series of three different trip wires. you have the su quester. you have the end of the later budget and then the debt ceiling this summer. happening over and over and over again. when there will be if ever a grand bargain, i frankly don't know and i wouldn't bet on it given the mood in washington right now. >> and meanwhile, we should point out, projections of the we have sit for 2013 under a trillion dollars down to 845 so maybe -- >> that's another point. >> sometimes -- >> exactly. >> the other thing is immigration. obviously, you
for about eight months now. but it to best way to a budget -- a balanced budget would be reinstating the tax on wall street transactions. there are quadrillions of dollars in turnover and a 1% tax would generate trillions of dollars in revenue. host: talk about your retirement strategy a little bit. host: there is not -- caller: there is none. that is the point. average people are in the same kind of predicament, not knowing what -- what do they call it? they want to have stability and predictability. where is it? host: when it comes to yourself, have you put anything away? caller: ipad, but it is all gone now. i would like to see a national infrastructure project. we could put people to work. host: steve from twitter -- host: next we're going to charlie. mississippi, independent line. caller: good morning. i am from jackson, where the capital is. i retired in 2009. it is a good thing. i was a civil servant. now in the state house there is legislation where some young republicans want to phase out our state retirement program for civil servants. house bill 486 allows people to just elect, if
they are not offering to pay back the tax payers. and so it is an important point to say the companies have got to understand the situation. they cannot be paid as if they are standing on their own 2 feet, and i to be part of the problem is that a lot of these companies want there to be no public memory of the bailout. they want people to say yes that happens but now it's over and we've moved on and everything is well that everything is not well in america. we are still recovering slowly and we are still covering these companies and still continuing to put them on our shoulder and so it is not business as usual. >> host: ms. romero, you mentioned to fold, the treasury is signing off on the executive pay which sigtarp has called excessive and also the responsibility of the companies. why should the company's not ask for more money? why should they ask for less? to play the devil's advocate the ask, the treasury denies. >> guest: at some point they have to take responsibility and realize they came to the government and said they loved bacon so if you come to the government you need to appreciate
and taxes. here is chief white house core responsibility ed henry. >> a feisty president obama was back in campaign mode. >> it will meaner people who have disabled kids suddenly having less help. >> slamming republicans and declaring he is ready to hit the road to sell the public on spending cuts and more tax hikes. >> is that an argument they want to have. that is an argument i'm more than willing to engage in. >> reporter: a new poll shows the public sharply disagrees with his claim that the federal government does not have a spending problem. 83% says it does have a problem and 14% say no. >> the american people will not accept another tax increase to put up a spending cut that the two parties have agreed to. >> reporter: nation security may be hanging in the balance. with the defense secretary leon panetta warring about the deep cuts coming on march 1st. >> this is will bad but damage national defense and compromise our ability to respond to crisis in a dangerous world. >> those cuts could mean a one month furlough for up to 800,000 civilian defense employees and he mocked leaders
a law stopping the payroll taxes from going into the general fund. sometimes those guys just every pass. mark says the age for social security needs to be raised. that is the only way to solve it. finally, the lunchbox cops are targeting fried foods. cafeterias will no longer serve 100,000 workers fried chicken, concise, fried fish, and help these workers cope, the usda has hired a full-time dietitian on site. of course, we were paying for it is taxpayers. here is the best part. this whole plan is only for a few buildings. if workers want some french fries, they just have to walk a block to the energy department where the french writers are still bubbling. that is my "two cents more". that is all we have for tonight. we will see you back tomorrow. lou: good evening, everybody. the president today spending political capital by the bucket full. pushing hard for gun control. despite the fact that the murder rate in america has dropped to a 50 year low. he called for more and higher taxes, despite the fact federal spending is out of control. today, the dow jones industrial posted the is los
the taxes have been taken out of the front end. truthfully we need much by research to the question. >> i would agree with that. senator enzi, we haven't done extensive research. we see powerful resource with the roth ira and the roth plan for incremental savings coupled with audio. i don't have distinctive research at this point. >> i hope we stay in effect with possibilities. what is the amount of regulation and the possibility for liability. that's it to think small businessman tony to keep them from going into this. i used to do the accounting primarily for fire when k. and do fairness testing. packets into other top executives are getting paid more in saving more versus the other people. do you have anything hessians for ways the regulation could be made simpler perhaps for small business? mr. moslander come you are dating to that. >> sure they regulation is the typical name, especially when fiduciary response ability. one of them are created and unintended positive consequences can put it elsewhere. it might be the portability possibilities difficult today to change jobs, but the fi
bad sin tax. he was deflecting attention. he wasn't shy. he met with the press every other week. it's more than any other president. he was out there. he was careful not to overstate things. careful not to show off too much. >> i want to ask you and this is the last thing, was he a little bit vain because of the eisenhower jacket. he took pains to show off his physiq physique. >> he did. i asked his family about it. he was a buff guy and he looked good in the eisenhower jacket, which he designed. he was vain, aren't we all? he was careful not to show off. >> well, i'll glad you showed off with this book. it's a good one. "ike's bluff." thanks for joining us. >> thanks. >>> the best super bowl ad ever. first, let's get to number five. pictures of kate middleton showing for the first time. evidence of her pregnancy. she did not step out for weeks. she was hospitalized for mourning sickness. she appears in fine form now. we are wishing her well. , we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk t
against tax increases and all the rest of it, if you are a major political party, dick luger is a first round draft pick for you. he is the kind of guy you want in the senate seat. you want him in the senate seat because he does a very important thing, he does not lose senate elections. but in 2012, something really unexpected happened. and dick luger lost the seat. but he didn't lose it to a democrat. he lost in a primary to this guy. >> i think even when life begins in that horrible situation of rape, that it is something that got intended to happen. >> that is richard mourdock, the tea party anti-establishment candidate. he had endorsements from americans for prosperity, the national right to life association, he is the republican who knocked dick luger out in the primary, and also lost the 2012 senate race in indiana. he is part of why despite the democrats defending the seat, increased their majority by two seats. over the past couple of things this kind of thing happened to republicans an awful lot. the establishment has been getting routed by the tea party. and many have not foug
are a tax advisory firm. financial advisory services. in our business, since our product -- we are a product company, our business is people with knowledge, ideas, innovation, helping clients solve their most challenging management and technology problems from a round the world. we have people who have deep expertise that we need to deploy in a quick manner. timing and speed is everything. within our brought workforce, our large u.s. work force, we complement our u.s. work force with farm workers, and mobility is important. we hire people from college campuses on these is. we use immigrant visas as well and green cards. also people wanting to become citizens. we also use -- we look at people who have expertise in specialized knowledge that we need to bring into the united states. we leverage other non-immigrants as well, but it is a matter of leverage in those to insure our clients receive the most timely , modern, and technology and process, so they can innovate as best they can. we know the statistics about 20% of companies in the u.s. had emigrant founders. 40% of the fortune 500 were fou
deadline. he provided no details about the tens of billions of dollars in spending cuts and tax adjustments that he wants congress to pass quickly. more specifics could come when he delivers his state of the union address next tuesday." with nearly $1 trillion of domestic and defense spending hanging in the balance, the president says the impacts are already being felt. >> they're never -- there are never -- >> we're not going to run it. okay, go ahead. >> -- there are never specific spending cuts. democrats never provide specific spending cuts. democrats -- alex, i'm just curious, how long has it been since democrats have passed a budget in the senate? watch this. watch this. >> 1,379 days. >> where's the full screen? i thought we had a full screen. >> since before the ipad. >> since before the ipad, exactly. no labels, nonpartisan group, of course, has this no -- >> no budget, no pay, which was signed into law by the president yesterday, for this particular bridge on the debt ceiling, but we need to apply it to the broader budget and appropriations process. >> and the thing is, it's just
Search Results 0 to 49 of about 103 (some duplicates have been removed)

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